Cambridge Mobile Telematics announced a $350 million strategic investment led by TPG and Allianz X, with participation from State Farm, to expand its AI-driven telematics platform and accelerate global road safety initiatives.
The investment will support the company’s next phase of growth, including scaling its global road safety platform, advancing real-time AI models for driving risk assessment and crash detection, and increasing adoption of its Universal Driving Score.
As part of the transaction, the companies have entered into long-term commercial agreements with Allianz entities, including Allianz Partners and Allianz Versicherungs-AG, to deploy telematics-based insurance and mobility solutions across Europe. The collaboration is designed to combine CMT’s AI-powered telematics capabilities with Allianz’s global insurance expertise to enhance customer outcomes and promote safer mobility.
TPG is investing through The Rise Funds, its impact-focused strategy, while Allianz is participating via Allianz X, its strategic investment arm. The partnership reflects a broader push to integrate data, AI, and behavioral insights into insurance and mobility ecosystems.
Cambridge Mobile Telematics operates one of the largest telematics platforms globally, serving tens of millions of drivers across 25 countries. Its AI-driven technology has helped prevent more than 100,000 crashes and is widely used by insurers, automakers, and mobility providers to improve safety and reduce risk.
The company said the investment will further its mission of shifting the industry from reactive to proactive road safety, using data and AI to reduce accidents, lower insurance costs, and support more sustainable transportation.
Support: Citigroup served as sole placement agent to Cambridge Mobile Telematics on the transaction, while Moelis & Company served as financial advisor to TPG.
KEY QUOTES:
“CMT demonstrates the power and potential of impact-driven technology. With the company’s data and DriveWell Atlas AI models, we are empowering drivers to make safer decisions, while also helping to make auto insurance more affordable. We are excited to partner with CMT, Allianz, and State Farm to expand the company’s leadership position in AI-driven telematics.”
Akash Pradhan, Business Unit Partner, The Rise Funds
“At Allianz X, we don’t just invest; we build the capabilities and partnerships that shape the future of insurance and mobility. By combining CMT’s telematics solutions with Allianz’s global reach, we shift from reacting to risks to preventing them. This deal exemplifies how we use strategic foresight to enhance Allianz through innovation, improving customer experience and promoting safer mobility for all.”
Dr. Nazim Cetin, CEO, Allianz X
“We are working closely with OEMs and automotive partners globally to drive forward the future of mobility. CMT’s technology enables us to provide even more tailored and data-driven insurance and assistance services to our partners and customers, ensuring peace of mind along the whole customer journey.”
Tomas Kunzmann, CEO, Allianz Partners
“Our partnership with CMT allows us to use technology to prevent accidents and improve our motor insurance products, but most importantly, it enables us to provide our customers and their families with even better protection.”
Frank Sommerfeld, CEO, Allianz Versicherungs-AG
“For State Farm, the investment reflects its commitment to leveraging technology to better serve the more than 90 million policies it holds across the U.S., including through more accurate risk assessment that benefits customers directly. CMT’s platform moves us closer to a world where crash prevention is possible for every driver. As a mutual company with a history of helping people protect what matters most, safer drivers mean better outcomes for everyone , and lower cost of coverage for our customers.”
Sara Frankowiak, Vice President & Actuary, State Farm
“Today’s investment strengthens our work to create safer roads, stronger communities, and a better future, and we’re energized by our partnerships with TPG, Allianz, and State Farm. Every crash we prevent, every life we protect, and every driver we help improve brings us closer to solving one of the world’s biggest challenges. We’re applying the full power of AI to transform mobility on a global scale to help save lives, reduce costs, and support more sustainable transportation.”
William V. Powers, Co-Founder And CEO, Cambridge Mobile Telematics
